Mr. Alonso Sotomeyer is required by his employer to use his own automobile in the course of his employment. His total automobile costs for the year, including lease costs, are $11,460. To compensate him, his employer pays an annual allowance of $12,000. During 2019, he drove his automobile a total of 48,260 kilometres, of which 19,960 kilometres were employment related.

Instructions

• Indicate the minimum taxable benefit applicable. Ensure you include your supporting calculation.

Note, you may submit your answ

Mr. Barton was divorced 2 years ago and maintains a residence separate from his former spouse. He has custody of the three children of the marriage, aged 8,9 and 10 and receives $2,500 per month in child support payments. Mr. Barton has Net Income for Tax Purposes of $62,300 none of which is employment income or income from self-employment. None of the children have any income of their own.

Instructions:

• Indicate the maximum 2020 federal personal tax credits available to offset preliminary taxes.